During the six-month period ending June 30, 2007, the number of client relationship officers (CROs) increased to 469, up 64 compared with end-2006. Meanwhile, clients’ assets under management reached CHF86.9 billion, representing a 45.8% rise from CHF59.6 billion in the same corresponding period a year ago.
The increase in clients’ assets under management as a result of acquisitions was CHF5.3 billion, including PRS Group and Quesada Kapitalförvaltning, as well as Bull Wealth Management Group.
The finance group also revealed that, during H1 2007, it obtained regulatory approval to offer banking services in Jersey, as well as a full securities investment business license for the Cayman Islands. In addition, the company established representative offices in Bahrain and the Philippines.
Lonnie Howell, CEO of EFG International, said: EFG International made pleasing progress across a broad front during the first half of 2007. All regions delivered strong double-digit organic growth, on an annualized basis. We enhanced our capabilities in a number of product and service areas, including funds of hedge funds, structured products, and secured loans. And CROs continued to broaden and deepen relationships with existing clients, as well as developing new ones, with notable progress among the wealthiest segments.
